Seminar on Guofa No. 5 Document with Shanghai DRC Officials

2017-03-07 | Shanghai

On March 7, Ms. Helei Fu, Senior Government Affairs Manager of the European Chamber, attended a seminar on Notice of the State Council on Several Measures on Promoting Further Openness and Active Utilization of Foreign Investment (Guofa No. 5). The seminar was organized by the Shanghai Development and Reform Commission in order to better understand foreign business concerns and recommendations and to draft local implementation details accordingly. Ms. Fu raised some common issues that the foreign business is currently facing including restrictions on cross-border cash flow, lack of access to standards making process, lack of access to public funds and grants for R&D projects, high HR and operational costs, and the slow progress of the Shanghai FTZ. The other participants also touched upon issues such as efficiency of customs clearance, impact of increasing environment protection standards, tax and law enforcement. At the end of the meeting, Ms. Fu presented Shanghai Position Paper to the DRC officials.